Business confidence in Scotland rebounded in February to its highest level in more than a year, new research reveals.
The headline figure in the Accenture/S&P Global UK Business Outlook was 35% in February, rising from 14% in October.
The index shows that Scottish companies were more confident than those in the eurozone, which recorded a 23% positive rating, but lower than the UK average of 43%.
Confidence was reflected in a more positive profit expectation, which has risen from -4% in June to 21% in February, and fewer businesses said they expected both supply costs and output prices to rise.
However, the number of firms predicting a rise in employment was less positive, with a net balance of 9% of Scottish businesses expecting to see an increase in their hiring activity – far below the UK average of 26%.
Stuart Chalmers, Joint managing director for Accenture in Scotland, said: “The research shows that rising wholesale costs and the knock-on effect of the price of goods and services remain significant concerns, but this optimism shows the resilience of Scottish businesses.
“While firms are understandably still cautious, it is also important to capitalise on this increased confidence and look to both the medium and long term with the skills of their people and their business investments.”
